GRI Simulations expanding market opportunities
July 20, 2015 – Mount Pearl, N.L. – Atlantic Canada Opportunities Agency
GRI Simulations Inc., a growing ocean technology company, is advancing new opportunities and expanding its markets, thanks in part to an investment from the Government of Canada. A repayable contribution of $500,000 was announced today by the Honourable Rob Moore, Regional Minister for Newfoundland and Labrador and Minister of State (Atlantic Canada Opportunities Agency), to support the company’s work to market its state-of-the-art simulation and visualization solutions.
GRI Simulations Inc. is an engineering and software development business that provides world-leading mission rehearsal simulation and training support for Remotely Operated Vehicles (ROVs) used for subsea military and offshore oil construction and production activities. The company exports its products internationally, and through this initiative will capitalize on existing markets while also undertaking international marketing activities to expand its global reach.
The company has two flagship products: the Virtual Remotely Operated Vehicle Simulator System (VROV Simulator), a modular simulator system specialized to provide realistic, scenario-based simulations for ROV pilot training programs; and the Interactive Design, Engineering and Analysis Field Development Kit (IDEA-FDK), which is mainly used by offshore oil and gas field developers to simulate and model the design, installation and testing of a subsea oil field in a 3D virtual reality environment.
Quick Facts:
- The Government of Canada is providing a repayable investment of $500,000 toward the project through ACOA’s Business Development Program.
- GRI Simulations is investing $433,333 to support the project.
- The Mount Pearl-based company was established in 1986 as Geo Resources Inc., and has been led by its current owners since 2003, operating as GRI Simulations.
- GRI Simulations also provides services such as mission planning and rehearsal, visual modeling and conversion, animation, field mapping and 3D video creation.
Quotes:
“Our Government is pleased to support inventive companies like GRI Simulations that are capitalizing on the international opportunities available in Newfoundland and Labrador’s growing ocean technology industry. Our Government continues to focus on international trade through agreements with markets such as the European Union, which is helping to stimulate the economy and create jobs by increasing access to world markets for local businesses.”
- The Honourable Rob Moore, Regional Minister for Newfoundland and Labrador and Minister of State (Atlantic Canada Opportunities Agency)
“Over the past few years, our company has built a strong, talented team and we’ve worked hard to build our reputation within the ocean technology and energy sector as we’ve acquired new customers and expanded the business. With this support from ACOA, we are able to pursue additional opportunities internationally as we seek out broader markets for our subsea simulation products and services.”
- Russell Pelley, President, GRI Simulations Inc.
Related Products:
Contacts:
Kelsie Corey
Director of Communications
Office of the Honourable Rob Moore
Atlantic Canada Opportunities Agency
613-941-7241
Kelsie.Corey@acoa-apeca.gc.ca
Julie Afonso
Acting Director, Public Affairs
ACOA NL
709-772-2984
Julie.Afonso@acoa-apeca.gc.ca
Russell Pelley
President
GRI Simulations Inc.
709-747-5599
russ.pelley@grisim.com
